Latest Updates 2023 tax inflation adjustments –The IRS announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2022-38 provides details about these annual adjustments. 2023 standard mileage rates – Beginning January 1, 2023, the standard mileage rates used to calculate the deductible costs of operating...Read More

2022 tax filing season begins Jan. 24; IRS outlines refund timing and what to expect in advance of April 18 tax deadline IR-2022-08, January 10, 2022 WASHINGTON — The Internal Revenue Service announced that the nation’s tax season will start on Monday, January 24, 2022, when the tax agency will begin accepting and processing 2021...Read More

Select a Tax Return Preparer with Care IR-2021-46, February 25, 2021 WASHINGTON – The Internal Revenue Service today reminded taxpayers to choose a tax return preparer with care. Even though the vast majority of tax return preparers provide honest, quality service, some cause great harm through fraud, identity theft and other scams every year. People...Read More

IRS provides guidance for employers claiming the Employee Retention Credit for 2020, including eligibility rules for PPP borrowers IR-2021-48, March 1, 2021 WASHINGTON — The Internal Revenue Service today issued guidance for employers claiming the employee retention credit under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), as modified by the Taxpayer Certainty and Disaster...Read More

Americans who earned cash driving for a rideshare service, by making deliveries for an app-based business as a side-gig or working short-term jobs as an independent contractor are part of the fast-growing gig economy. But that can make tax filing confusing for many. The Federal Reserve estimates there are as many as 75 million Americans...Read More